The Chancellor is said to be feeling “very depressed” as she faces a gloomy economic outlook.
Rachel Reeves: Chancellor reacts to UK inflation rise
Rachel Reeves is reportedly feeling “very depressed” and “can’t see a way out” amid UK economic turmoil.
Increases in the Government’s borrowing costs have sparked concern that the Chancellor will be unable to meet her fiscal rules.
A source told The Times: “She’s got choices to make and she knows they’re all s***.”
But shadow business secretary Andrew Griffith said: “Rachel is apparently feeling depressed.
“Imagine how pensioners, farmers, businesses, families – and in fact everyone whose money or job she has taken away – feel.
“Bad socialist choices coming home to roost.”
READ MORE: Rachel Reeves ‘humiliated’ by China as she returns with just ‘small change’
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Chancellor Rachel Reeves (Image: Getty)
Ms Reeves has vowed to “take action” to meet her debt and spending targets which is reported to include deeper spending cuts and slashing the welfare bill.
The Chancellor has previously ruled out further tax rises after hiking taxes by £40 billion at the Budget in October.
It comes after turbulence on the gilt markets, where yields reached their highest level since 2008 last week.
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The chaos overshadowed Ms Reeves’s trip to China as she faced criticism for going ahead with the visit.
The Chancellor also came under fire for returning with just £600 million of investment.
